Valley National Bancorp Annual Dodd-Frank Act Stress Test Disclosure
|
|
- Mervin Woods
- 5 years ago
- Views:
Transcription
1 Valley National Bancorp 2015 Annual Dodd-Frank Act Stress Test Disclosure June 2015
2 2015 Annual Dodd-Frank Act Company-Run Stress Test Disclosure for Valley National Bancorp and Valley National Bank Introduction Section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act ) and related regulations requires national banks and federal savings associations with consolidated assets of more than $10 billion, including Valley National Bancorp (referred to herein as Valley, we, us, our or the Bank ), to conduct annual stress tests. In the Dodd-Frank Act stress test ( DFAST ) conducted annually and completed in March of this year, we are required to perform stress tests using a set of macroeconomic scenarios (supervisory baseline, supervisory adverse and supervisory severely adverse) developed by the Board of Governors of the Federal Reserve System ( Federal Reserve Board ). The results of the stress tests are submitted to the Office of the Comptroller of the Currency ( OCC ) and the Federal Reserve Board. Stress testing is an integral component of our internal capital adequacy assessment and we incorporate DFAST into our internal processes to assess our capital adequacy and to ensure that the Bank holds an appropriate amount of capital relative to the risks of our businesses and consistent with Valley s Board of Director s Risk Appetite Statement. The DFAST rules require us to publish a summary of the stress test results based on the Federal Reserve Board s severely adverse scenario in June of this year. Our planning horizon for the 2015 stress test is the first quarter of 2015 through the fourth quarter of We were instructed by the OCC to utilize our projections beginning in the first quarter of 2015 due to an acquisition that closed in the fourth quarter of Basel III-Based Capital Rules ( Basel III ) The Bank is required to compute its capital ratios for each quarter of the planning horizon. The Common Equity Tier I, Tier I, Total Capital and Leverage ratios are calculated utilizing the Basel III-based capital rules. Standardized Capital Rules We are also required to calculate capital ratios under the Standardized Capital Rules. Effective in the first quarter of 2015, risk weighted assets ( RWAs ) and capital are calculated under the Standardized Capital Rules that utilize the Revised Capital Framework definition of capital. The new definitions of capital include changes to certain limitations on the instruments that can be included in regulatory capital and the items that must be deducted. The revised capital framework also introduces a new regulatory capital ratio, Common Equity Tier I which is calculated for all quarters over the planning horizon.
3 Severely Adverse Scenario The severely adverse scenario is developed and prescribed by the Federal Reserve Board. For the 2015 DFAST, the scenarios include 28 variables, 16 domestic and 12 international. This included six measures of economic activity and prices; four aggregate measures of asset prices or financial conditions; six measures of interest rates; and twelve measures of international conditions. GDP and Unemployment The severely adverse scenario for the United States is characterized by a deep and prolonged recession in which the unemployment rate increases by 4 percentage points from its level in the third quarter of 2014, peaking at 10 percent in the middle of In terms of both the peak level reached by the unemployment rate and its total increase, this shock is of a similar magnitude to those experienced in severe U.S. contractions during the past half century. By the end of 2015, the level of real GDP is approximately 4½ percent lower than its level in the third quarter of 2014; it begins to recover thereafter. U.S. Interest Rates and Credit Spreads In response to this economic contraction and despite the higher near-term path of CPI inflation Treasury yields of all maturities are significantly lower throughout the scenario. Short-term interest rates remain near zero through 2017; long-term Treasury yields drop to 1 percent in the fourth quarter of 2014 and then edge up slowly over the remainder of the scenario period. Driven by the assumed decline in corporate credit quality, spreads on investment-grade corporate bonds jump from about 170 basis points to 500 basis points at their peak. As a result, despite lower long-term Treasury yields, corporate financial conditions tighten significantly in 2015 and the yield on investment-grade corporate bonds is higher than the baseline until the fourth quarter of Mortgage rates also increase over the course of 2015, driven by some widening in spreads. Equity Markets & Other Prices Consistent with these developments, asset prices contract sharply in the scenario. Equity prices fall by approximately 60 percent from the third quarter of 2014 through the fourth quarter of 2015, and equity market volatility increases sharply. House prices decline by approximately 25 percent during the scenario period relative to their level in the third quarter of 2014, while commercial real estate prices are more than 30 percent lower at their trough. Summary of Results The following table summarizes the results of the Bank s calculations under the Federal Reserve Board s severely adverse scenario over the planning horizon. The results incorporate the following capital action assumptions as prescribed by the Federal Reserve Board s DFAST rules for each of the quarters in the planning horizon: common stock dividends equal to the quarterly average dollar amount of common stock dividends that were paid in the first quarter of 2014 through the fourth quarter of 2014; payments on any other instrument eligible for inclusion in the numerator of a regulatory capital ratio equal to the stated dividend, interest or principal due on such instrument; and no redemption or repurchase of any capital instrument eligible for inclusion in the numerator of a regulatory capital ratio. 3
4 2015 Annual DFAST Results Valley National Bancorp Projected Capital Ratios, Risk Weighted Assets ( RWAs ), Pre-Provision Net Revenues ( PPNR ), Aggregate Losses and Net Income Valley National Bancorp Projections Under the Federal Reserve Board s Severely Adverse Scenario These results are calculated using capital action assumptions required by the DFAST rules. All projections represent hypothetical estimates that involve an economic outcome that is more adverse than expected. These estimates are not forecasts. Actual and Projected Capital Ratios through Q under the Federal Reserve Board's Severely Adverse Scenario Actual Stressed Capital Ratios Q Q Ending Lowest Common equity tier 1 ratio (%) % 9.04% Tier 1 capital ratio (%) % 9.73% 9.04% 9.04% Total capital ratio (%) % 11.42% 11.18% 11.18% Tier 1 leverage ratio (%) % 7.46% 6.81% 6.81% 1 Projected capital ratios are presented under Basel III Projected Loan Losses by Type of Loan from Q through Q under the Federal Reserve Board's Severely Adverse Scenario Total Loan and Lease Losses First Lien M ortgages Junior Liens and HELOCs Commercial and Industrial Commercial Real Estate Credit Cards Other Consumer Other Loans 1 Loss rates are calculated based on the average asset size of the respective category Portfolio Loss Rates % % % % % % % % Projected PPNR, Losses and Net(Loss)/Income After Taxes from Q through Q under the Federal Reserve Board's Severely Adverse Scenario PPNR Other Revenue Less Provision for Loan Losses Realized Losses/(Gains) on Securities Equals Net (Loss)/Income Before Taxes Percentage of Average Assets % % % 4
5 2015 Annual DFAST Results Valley National Bank Projected Capital Ratios, Risk Weighted Assets ( RWAs ), Pre-Provision Net Revenues ( PPNR ), Aggregate Losses and Net Income Valley National Bank Projections Under the Federal Reserve Board s Severely Adverse Scenario These results are calculated using capital action assumptions required by the DFAST rules. All projections represent hypothetical estimates that involve an economic outcome that is more adverse than expected. These estimates are not forecasts. Actual and Projected Capital Ratios through Q under the Federal Reserve Board's Severely Adverse Scenario Actual Stressed Capital Ratios Q Q Ending Lowest Common equity tier 1 ratio (%) % 9.63% Tier 1 capital ratio (%) % 10.17% 9.63% 9.63% Total capital ratio (%) % 10.94% 10.56% 10.56% Tier 1 leverage ratio (%) % 7.79% 7.25% 7.25% 1 Projected capital ratios are presented under Basel III Projected Loan Losses by Type of Loan from Q through Q under the Federal Reserve Board's Severely Adverse Scenario Total Loan and Lease Losses First Lien M ortgages Junior Liens and HELOCs Commercial and Industrial Commercial Real Estate Credit Cards Other Consumer Other Loans 1 Loss rates are calculated based on the average asset size of the respective category Portfolio Loss Rates % % % % % % % % Projected PPNR, Losses and Net(Loss)/Income After Taxes from Q through Q under the Federal Reserve Board's Severely Adverse Scenario PPNR Other Revenue Less Provision for Loan Losses Realized Losses/(Gains) on Securities Equals Net (Loss)/Income Before Taxes Percentage of Average Assets % % % 5
6 Based on the Federal Reserve Board s severely adverse scenario, the most significant drivers of the changes in the Bank s regulatory capital ratios over the planning horizon when compared with actual regulatory capital ratios as of the fourth quarter of 2014 are: increased RWAs resulting from modest loan growth over the planning horizon and the requirement to project RWAs based on the revised capital framework; loan losses which are included in our net (loss)/income projections and increased allowance for loans and lease losses; and lower Pre-Provision Net Revenue ( PPNR ) over the planning horizon resulting in decreased net (loss)/income. Material Risk Captured in the Stress Test Credit Risk Credit risk is the risk to earnings or capital arising from an obligor s failure to meet the terms of any contract with the bank or otherwise to perform as agreed. Credit risk is found in all activities where success depends on counterparty, issuer, or borrower performance. It arises any time bank funds are extended, committed, invested, or otherwise exposed through actual or implied contractual agreements. Credit risk is incorporated into our 2015 DFAST results via the severely adverse macroeconomic scenario. The significant drop in economic output, home prices and equity prices as well as a rise in the unemployment rate resulted in increased credit risk which is also reflected into our provision for loan and lease losses. Liquidity Risk Liquidity risk is the risk to earnings or capital arising from a bank s inability to meet its obligations when they come due without incurring unacceptable losses. Liquidity risk includes the inability to manage unplanned decreases or changes in funding sources. Liquidity risk also arises from the failure to recognize or address changes in market conditions that affect the ability to liquidate assets quickly and with minimal loss in value. Our 2015 DFAST results account for liquidity risk by projecting funding balances based on the severely adverse scenario and assessing the impact of the outflows on our balance sheet. Interest Rate Risk Interest rate risk is the risk to earnings or capital arising from movements in market interest rates. Interest rate risk arises from the impact of movements in interest rates and the timing of cash flows (repricing risk), from changing rate relationships among different yield curves affecting bank activities (basis risk), from changing rate relationships across the spectrum of maturities (yield curve risk), and from interestrelated options embedded in bank products (options risk). Interest rate risk is incorporated into our 2015 DFAST results via the severely adverse macroeconomic scenario. The compression experienced in the yield curve is evidenced by the narrowing of the 3-month and 10-year Treasury Rate spread. This dynamic sufficiently captures interest rate risk over the course of the planning horizon. 6
7 Operational Risk Operational risk is the risk to earnings or capital arising from inadequate or failed internal processes or systems, the misconduct or errors of people, and adverse external events. Operational losses result from internal fraud; external fraud; employment practices and workplace safety; clients, products, and business practices; damage to physical assets; business disruption and systems failures; and execution, delivery, and process management. For capital stress testing purposes, compliance risk has been considered as part of operational risk. Operational risk losses are assessed based on the assumed conditions of the severely adverse scenario. The estimates may include judgements based on the Bank s historical operational risk experience, internal factors and industry trends. The 2015 DFAST results incorporate operational risk losses within the noninterest expense projections over the planning horizon. Acquisition Risk Acquisition risk can potentially impact enterprise-wide risk indicators. Risk exposures arise from expanding the geographic reach of the combined entity and broadening of the customer base potentially through new products or services. An acquisition may result in greater concentration of counterparty credit risk or exposure to financial instruments. Identifying potential changes in enterprise risks, creating an action plan to address them, and assessing changes to risk management strategies post-acquisition are critical to managing acquisition risk. Description of Our Stress Testing Methodologies Our stress testing projections are primarily estimated using quantitative methodologies. Management judgement is also a critical component of the process and therefore some estimates are conveyed based on a qualitative approach. We use econometric models to estimate pre-provision net revenue and credit losses to assess our capital levels for each quarter over the planning horizon. On whole, line items determined to be material to the balance sheet or income statements are projected using quantitative models. However, in certain situations where statistical correlations to macroeconomic variables are weak or in cases where sufficient historical data are not available, we use qualitative estimations to determine the projections over the planning horizon. Typically, qualitative estimations are more conservative in nature in that the results are more adverse to capital. We largely utilize the variables developed and prescribed by the Federal Reserve Board in our econometric models. In certain circumstances we may utilize variables that are extrapolated based on what was provided by the Federal Reserve Board. Valley National Bancorp s wholly owned subsidiary, Valley National Bank represents 99.9 percent of the consolidated Company s assets; therefore, we apply the same methodologies when conducting stress tests at the bank level. Supplementary Information Additional information on DFAST is available on the Federal Reserve Board s website at 7
Valley National Bancorp Annual Dodd-Frank Act Stress Test Disclosure
Valley National Bancorp 2017 Annual Dodd-Frank Act Stress Test Disclosure October 2017 2017 Annual Dodd-Frank Act Stress Test Disclosure for Valley National Bancorp and Valley National Bank Introduction
More informationValley National Bancorp Annual Dodd-Frank Act Stress Test Disclosure
Valley National Bancorp 2016 Annual Dodd-Frank Act Stress Test Disclosure October 2016 2016 Annual Dodd-Frank Act Stress Test Disclosure for Valley National Bancorp and Valley National Bank Introduction
More informationCATHAY GENERAL BANCORP, INC. & CATHAY BANK DODD-FRANK ACT STRESS TEST RESULTS DISCLOSURE JUNE 26, 2015
CATHAY GENERAL BANCORP, INC. & CATHAY BANK DODD-FRANK ACT STRESS TEST RESULTS DISCLOSURE JUNE 26, 2015 Overview Cathay General Bancorp is a corporation that was organized in 1990 under the laws of the
More informationCATHAY GENERAL BANCORP & CATHAY BANK DODD-FRANK ACT STRESS TEST RESULTS DISCLOSURE OCTOBER 26, 2016
CATHAY GENERAL BANCORP & CATHAY BANK DODD-FRANK ACT STRESS TEST RESULTS DISCLOSURE OCTOBER 26, 206 Overview Cathay General Bancorp was incorporated in 990 under the laws of the State of Delaware ( Bancorp
More information2015 Comprehensive Capital Analysis and Review
BMO Financial Corp. and BMO Harris Bank N.A. 205 Comprehensive Capital Analysis and Review Dodd-Frank Act Company-Run Stress Test Supervisory Severely Adverse Scenario Results Disclosure March 5, 205 Overview
More informationPRIVATEBANCORP, INC. (PVTB)
PRIVATEBANCORP, INC. (PVTB) DODD-FRANK ACT COMPANY-RUN STRESS TEST DISCLOSURE UNDER SUPERVISORY SEVERELY ADVERSE SCENARIO OCTOBER 20, 2016 Introduction PrivateBancorp, Inc. ( PrivateBancorp, the Company,
More informationCIBC Bank USA (f/k/a The PrivateBank and Trust Company)
CIBC Bank USA (f/k/a The PrivateBank and Trust Company) DODD-FRANK ACT COMPANY-RUN STRESS TEST DISCLOSURE UNDER SUPERVISORY SEVERELY ADVERSE SCENARIO OCTOBER 31, 2017 Introduction On June 29, 2016, PrivateBancorp,
More informationBBVA Compass Bancshares, Inc. Dodd-Frank Act Company-Run Stress Test Disclosures June 22, 2018
Dodd-Frank Act Company-Run Stress Test Disclosures June 22, 2018 Overview for Dodd-Frank Act Stress Test ("DFAST") Disclosure (the "Company") is a bank holding company ("BHC") that is a covered company
More informationBMO Financial Corp. and. BMO Harris Bank N.A. Dodd-Frank Act Company-Run Stress Test. Supervisory Severely Adverse Scenario Results Disclosure
BMO Financial Corp. and BMO Harris Bank N.A. Dodd-Frank Act Company-Run Stress Test Supervisory Severely Adverse Scenario Results Disclosure June 2, 208 Overview BMO Financial Corp. (BFC), a U.S. Intermediate
More informationBank of America 2015 Dodd-Frank Act Annual Stress Test Results Supervisory Severely Adverse Scenario March 5, 2015
Bank of America 2015 Dodd-Frank Act Annual Stress Test Results Supervisory Severely Adverse Scenario March 5, 2015 Important Presentation Information The 2015 Dodd-Frank Act Annual Stress Test Results
More informationBank of America 2016 Dodd-Frank Act Annual Stress Test Results Supervisory Severely Adverse Scenario June 23, 2016
Bank of America 2016 Dodd-Frank Act Annual Stress Test Results Supervisory Severely Adverse Scenario June 23, 2016 Important Presentation Information The 2016 Dodd-Frank Act Annual Stress Test Results
More informationDISCOVER FINANCIAL SERVICES. Dodd-Frank Act Stress Test Disclosures June 21, 2018
DISCOVER FINANCIAL SERVICES Dodd-Frank Act Stress Test Disclosures June 21, 2018 DISCOVER FINANCIAL SERVICES CCAR 2018 Public Disclosure of Stress Test Results TABLE OF CONTENTS Introduction 1 Summary
More informationDodd-Frank Act Stress Test 2017 Results Disclosure. Webster Financial Corporation and Webster Bank, N.A.
Dodd-Frank Act Stress Test 2017 Results Disclosure Webster Financial Corporation and Webster Bank, N.A. October 17, 2017 I. Overview and Requirements Webster Financial Corporation ( Webster or the Holding
More informationUSAA Federal Savings Bank 2017 Dodd-Frank Act Stress Test Results Supervisory Severely Adverse Scenario
USAA Federal Savings Bank 2017 Dodd-Frank Act Stress Test Results Supervisory Severely Adverse Scenario June 15, 2017 In accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act (
More informationDISCOVER FINANCIAL SERVICES DFAST 2016 Mid-cycle Public Disclosure of Stress Test Results October 6, 2016
DISCOVER FINANCIAL SERVICES DFAST 2016 Mid-cycle Public Disclosure of Stress Test Results October 6, 2016 DISCOVER FINANCIAL SERVICES DFAST 2016 Mid-cycle Public Disclosure of Stress Test Results TABLE
More informationBank of America 2018 Dodd-Frank Act Mid-Cycle Stress Test Results BHC Severely Adverse Scenario October 18, 2018
Bank of America 2018 Dodd-Frank Act Mid-Cycle Stress Test Results BHC Severely Adverse Scenario October 18, 2018 Important Presentation Information The 2018 Dodd-Frank Act Mid-Cycle Stress Test Results
More informationThe Goldman, Sachs Sachs Group, & Co. Inc Mid-Cycle Dodd-Frank Act Stress Test Disclosure
The Goldman, Sachs Sachs Group, & Co. Inc. 2015 Mid-Cycle Dodd-Frank Act Stress Test Disclosure July 2015 1 2015 Mid-Cycle Dodd-Frank Act Company-Run Stress Test Disclosure for The Goldman Sachs Group,
More informationDISCOVER FINANCIAL SERVICES DFAST 2018 Mid-cycle Public Disclosure of Stress Test Results October 9, 2018
DISCOVER FINANCIAL SERVICES DFAST 2018 Mid-cycle Public Disclosure of Stress Test Results October 9, 2018 DISCOVER FINANCIAL SERVICES DFAST 2018 Mid-cycle Public Disclosure of Stress Test Results TABLE
More information2018 Mid-Cycle Dodd-Frank Act Company-Run Stress Test (DFAST) Filed with Board of Governors of the Federal Reserve System
2018 Mid-Cycle Dodd-Frank Act Company-Run Stress Test (DFAST) Filed with Board of Governors of the Federal Reserve System October, 2018 Cautionary statement This 2018 Mid-cycle Dodd Frank Act Stress Test
More informationM&T Bank Corporation. Manufacturers and Traders Trust Company. Company-Run Stress Test Mid-Cycle Dodd-Frank Act Stress Test Results Disclosure
M&T Bank Corporation Manufacturers and Traders Trust Company Company-Run Stress Test Mid-Cycle Dodd-Frank Act Stress Test Results Disclosure October 9, 2018 1 Explanatory Note In accordance with Section
More informationHuntington Bancshares Incorporated & Huntington National Bank Company-Run Capital Stress Test Results Disclosure
Huntington Bancshares Incorporated & Huntington National Bank Company-Run Capital Stress Test Results Disclosure Capital Stress Testing Results Covering the Time Period January 1, 2018 through March 31,
More informationM&T Bank Corporation. Manufacturers and Traders Trust Company. Company-Run Stress Test Dodd-Frank Act Stress Test Results Disclosure.
M&T Bank Corporation Manufacturers and Traders Trust Company Company-Run Stress Test Dodd-Frank Act Stress Test Results Disclosure June 21, 2018 1 Explanatory Note In accordance with Section 165(i)(2)
More informationBank of America Dodd-Frank Act Mid-Cycle Stress Test Results BHC Severely Adverse Scenario July 17, 2015
Bank of America Dodd-Frank Act Mid-Cycle Stress Test Results BHC Severely Adverse Scenario July 17, 2015 Important Presentation Information The 2015 Dodd-Frank Act Mid-Cycle Stress Test Results Disclosure
More information2016 Dodd-Frank Act Stress Test Disclosure
2016 Dodd-Frank Act Stress Test Disclosure October 2016 About ( AFH or the Company ) is a holding company whose primary business is the operation of its wholly owned subsidiary, Apple Bank for Savings
More informationInvestors Bancorp, Inc Company-Run Dodd-Frank Act Stress Test Annual Results Disclosure Supervisory Severely Adverse Scenario
Investors Bancorp, Inc. 2017 Company-Run Dodd-Frank Act Stress Test Annual Results Disclosure Supervisory Severely Adverse Scenario October 25, 2017 Background As required by the Dodd-Frank Wall Street
More informationHSBC North America Holdings Inc Comprehensive Capital Analysis and Review and Annual Company-Run Dodd-Frank Act Stress Test Results
2018 Comprehensive Capital Analysis and Review and Annual Company-Run Dodd-Frank Act Stress Test Results Date: July 2, 2018 TABLE OF CONTENTS 1. Overview of the Comprehensive Capital Analysis and Review
More informationFirst Hawaiian Bank Dodd-Frank Act (DFA) 2017 Stress Test Results. October 19, 2017
First Hawaiian Bank Dodd-Frank Act (DFA) 2017 Stress Test Results October 19, 2017 First Hawaiian Bank DFA Stress Test Results SUMMARY The purpose of the Dodd Frank Act stress test, which is jointly administered
More informationM&T Bank Corporation. Manufacturers and Traders Trust Company. Company-Run Stress Test Dodd-Frank Act Stress Test Results Disclosure.
M&T Bank Corporation Manufacturers and Traders Trust Company Company-Run Stress Test Dodd-Frank Act Stress Test Results Disclosure March 12, 2015 1 Explanatory Note In accordance with the Dodd-Frank Wall
More informationCENTRAL BANCOMPANY INCORPORATED 2017 ANNUAL DODD-FRANK ACT STRESS TEST DISCLOSURE OCTOBER 2017
CENTRAL BANCOMPANY INCORPORATED 2017 ANNUAL DODD-FRANK ACT STRESS TEST DISCLOSURE OCTOBER 2017 Background Central Bancompany, Inc. (the Company ) is a privately held $12 billion bank holding-company headquartered
More informationDISCOVER FINANCIAL SERVICES DFAST 2017 Mid-cycle Public Disclosure of Stress Test Results October 18, 2017
DISCOVER FINANCIAL SERVICES DFAST 2017 Mid-cycle Public Disclosure of Stress Test Results October 18, 2017 DISCOVER FINANCIAL SERVICES DFAST 2017 Mid-cycle Public Disclosure of Stress Test Results TABLE
More informationDodd-Frank Act Stress Test 2017 Public Disclosure
Dodd-Frank Act Stress Test 2017 Public Disclosure October 25, 2017 About MB Financial, Inc. MB Financial, Inc., headquartered in Chicago, Illinois, is a financial holding company. The words MB Financial,
More informationUBS. UBS Bank USA Annual Dodd-Frank Act Stress Test Results
UBS UBS Bank USA Annual Dodd-Frank Act Stress Test Results UBS Bank USA Stress Test Results under a hypothetical Severely Adverse Economic Scenario provided by the Federal Reserve Board of Governors covering
More informationPEOPLE'S UNITED BANK, N.A Dodd-Frank Act Stress Test (DFAST) Disclosure. June 18, 2015
PEOPLE'S UNITED BANK, N.A. 2015 Dodd-Frank Act Stress Test (DFAST) Disclosure June 18, 2015 1. Requirements for Dodd-Frank Stress Test In accordance with the Dodd-Frank Wall Street Reform and Consumer
More information2015 Annual DFAST. SunTrust Banks, Inc. Dodd-Frank Act 2015 Annual Stress Test Results Disclosure. March 6, 2015
SunTrust Banks, Inc. Dodd-Frank Act 2015 Annual Stress Test Results Disclosure March 6, 2015 Page 1 of 8 03/6/2015 Overview SunTrust Banks, Inc. ( SunTrust or the Company ) regularly evaluates financial
More informationThe Goldman Sachs Group, Inc. and. Goldman Sachs Bank USA Annual Dodd-Frank Act Stress Test Disclosure
The Goldman Sachs Group, Inc. and Goldman Sachs Bank USA 2014 Annual Dodd-Frank Act Stress Test Disclosure March 2014 1 2014 Annual Dodd-Frank Act Stress Test Disclosure for The Goldman Sachs Group, Inc.
More informationDiscover Financial Services. Dodd-Frank Act Stress Test Disclosures
Discover Financial Services Dodd-Frank Act Stress Test Disclosures March 26, 2014 1 Discover CCAR 2014 Public Disclosure of Results Introduction The Dodd-Frank Wall Street Reform and Consumer Protection
More informationHSBC North America Holdings Inc Comprehensive Capital Analysis and Review and Annual Company-Run Dodd-Frank Act Stress Test Results
2017 Comprehensive Capital Analysis and Review and Annual Company-Run Dodd-Frank Act Stress Test Results Date: June 30, 2017 CONTENTS Section 1. Overview of the Comprehensive Capital Analysis and Review
More information2018 Dodd-Frank Act Annual Stress Test (DFAST) Filed with Board of Governors of the Federal Reserve System on April 5th, 2018 Including UBS Bank USA
(DFAST) Filed with Board of Governors of the Federal Reserve System on April 5th, 2018 Including UBS Bank USA June, 2018 Cautionary statement This 2018 Dodd Frank Act Stress Test Disclosure presents stress
More informationFirst Hawaiian Bank Dodd-Frank Act (DFA) 2015 Stress Test Results. June 15, 2015
First Hawaiian Bank Dodd-Frank Act (DFA) 2015 Stress Test Results June 15, 2015 First Hawaiian Bank DFA Stress Test Results SUMMARY The purpose of the Dodd Frank Act stress test, which is jointly administered
More informationBMO Financial Corp Mid-Cycle Dodd-Frank Act Stress Test. Severely Adverse Scenario Results Disclosure
BMO Financial Corp. Mid-Cycle Dodd-Frank Act Stress Test Severely Adverse Scenario Results Disclosure October 22, Overview BMO Financial Corp. (BFC), a U.S. Intermediate Holding Company (IHC), is a wholly-owned
More informationUSAA Federal Savings Bank 2018 Dodd-Frank Act Stress Test Results Supervisory Severely Adverse Scenario
USAA Federal Savings Bank 2018 Dodd-Frank Act Stress Test Results Supervisory Severely Adverse Scenario June 15, 2018 In accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act and
More informationProsperity Bancshares, Inc. & Prosperity Bank - Dodd-Frank Act Stress Test Disclosure
Prosperity Bancshares, Inc. & Prosperity Bank - Dodd-Frank Act Stress Test Disclosure Prosperity Bancshares, Inc. ( Prosperity ), with $22.1 billion in assets as of September 30, 2017 is a Houston, Texas
More informationHSBC North America Holdings Inc Mid-Cycle Company-Run Dodd-Frank Act Stress Test Results. Date: July 16, 2015
Date: July 16, 2015 TABLE OF CONTENTS PAGE 1. Overview of Mid-Cycle Company-Run Dodd-Frank Act Stress Test... 1 2. Description of the Bank Holding Company Severely Adverse scenario... 1 3. Forecasting
More information2018 Annual DFAST. SunTrust Banks, Inc. Dodd-Frank Act 2018 Annual Stress Test Results Disclosure. June 21, 2018
SunTrust Banks, Inc. Dodd-Frank Act 2018 Annual Stress Test Results Disclosure June 21, 2018 Page 1 of 8 06/21/2018 Overview SunTrust Banks, Inc. ( SunTrust or the Company ) regularly evaluates financial
More information2018 Mid-Cycle Dodd-Frank Act Stress Test (DFAST) October 22, 2018
2018 Mid-Cycle Dodd-Frank Act Stress Test (DFAST) October 22, 2018 Table of Contents A B C D E F Section Page Disclaimer 3 Requirements for Mid-Cycle Dodd-Frank Act Stress Test 4 Description of the Company-Run
More informationHSBC North America Holdings Inc Mid-Cycle Company-Run Dodd-Frank Act Stress Test Results. Date: October 9, 2018
Date: October 9, 2018 TABLE OF CONTENTS 1. Overview of the Mid-Cycle Company-Run Dodd-Frank Act Stress Test... 2. Description of the Bank Holding Company Severely Adverse Scenario... 3. Forecasting Methodologies
More informationThe Goldman Sachs Group, Inc Dodd-Frank Act Mid-Cycle Stress Test Results. September 16, 2013
The Goldman Sachs Group, Inc. 2013 Dodd-Frank Act Mid-Cycle Stress Test Results September 16, 2013 1 Dodd-Frank Act Mid-Cycle Stress Test Results for The Goldman Sachs Group, Inc. Overview and requirements
More informationHancock Holding Company Dodd Frank Act Annual Stress Test 2015 Results Disclosure
Hancock Holding Company Dodd Frank Act Annual Stress Test 2015 Results Disclosure June 23, 2015 In this report, when we refer to Hancock, HHC or the Company we mean Hancock Holding Company and its consolidated
More information2018 Mid-Cycle Stress Test Disclosure
208 Mid-Cycle Stress Test Disclosure Dodd-Frank Act Stress Test Results JPMorgan Chase Severely Adverse Scenario October 26, 208 Table of contents Page 208 Mid-Cycle Stress Test JPMorgan Chase Severely
More information2013 Comprehensive Capital Analysis and Review (CCAR) and Dodd-Frank Stress Tests
2013 Comprehensive Capital Analysis and Review (CCAR) and Dodd-Frank Stress Tests Comprehensive Capital Plan submitted to the Federal Reserve Bank on January 7, 2013 SECTION TABLE OF CONTENTS PAGE 1 Background
More informationBB&T Corporation. Dodd-Frank Act Company-run Stress Test Disclosure
BB&T Corporation Dodd-Frank Act Company-run Stress Test Disclosure June 21, 2018 1 Introduction BB&T Corporation (BB&T) is one of the largest financial services holding companies in the U.S. with approximately
More information2018 Annual Stress Test Disclosure
208 Annual Stress Test Disclosure Dodd-Frank Act Stress Test Results Supervisory Severely Adverse Scenario June 2, 208 Table of contents Page 208 Supervisory Severely Adverse scenario results 2 Risks and
More informationHSBC North America Holdings Inc Mid-Cycle Company-Run Dodd-Frank Act Stress Test Results. Date: September 15, 2014
Date: September 15, 2014 TABLE OF CONTENTS PAGE 1. Overview of the mid-cycle company-run Dodd-Frank Act stress test... 1 2. Description of the internal severely adverse scenario... 1 3. Forecasting methodologies
More informationDodd-Frank Act 2013 Mid-Cycle Stress Test
Dodd-Frank Act 2013 Mid-Cycle Stress Test Submitted to the Federal Reserve Bank on July 5, 2013 SECTION TABLE OF CONTENTS PAGE 1 Background to Mid-Cycle Company-Run Stress Test 1 2 Description of the Company
More informationDISCOVER FINANCIAL SERVICES (Exact name of registrant as specified in its charter)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event
More informationDodd-Frank Act Company-Run Stress Test Disclosures
Dodd-Frank Act Company-Run Stress Test Disclosures June 21, 2018 Table of Contents The PNC Financial Services Group, Inc. Table of Contents INTRODUCTION... 3 BACKGROUND... 3 2018 SUPERVISORY SEVERELY ADVERSE
More information2017 Mid-Cycle Dodd-Frank Act Stress Test (DFAST) Submitted to the Federal Reserve Bank on October 5, 2017
2017 Mid-Cycle Dodd-Frank Act Stress Test (DFAST) Submitted to the Federal Reserve Bank on October 5, 2017 Table of Contents A B C D E F Section Page Disclaimer 3 Requirements for Annual Dodd-Frank Act
More informationDodd-Frank Act 2014 Mid-Cycle Stress Test. Submitted to the Federal Reserve Bank on July 3, 2014
Dodd-Frank Act 2014 Mid-Cycle Stress Test Submitted to the Federal Reserve Bank on July 3, 2014 Table of Contents Section Pages 1. Requirements for Mid-Cycle Company-Run Stress Test 4 2. Description of
More information2015 Dodd-Frank Act Stress Test (DFAST)
2015 Dodd-Frank Act Stress Test (DFAST) Company-Run Dodd-Frank Stress Test Submitted to the Federal Reserve Bank on January 5, 2015 Updated as of June 15, 2015 to include Morgan Stanley Private Bank, National
More informationU.S. Bank National Association. Annual Company-Run Stress Test Disclosure
U.S. Bank National Association Annual Company-Run Stress Test Disclosure March, 2013 Page 1 Risks Included in the Stress Test U.S. Bank National Association (the Bank ) is U.S. Bancorp s (the Company )
More informationBB&T Corporation. Dodd-Frank Act Company-run Mid-cycle Stress Test Disclosure BB&T Severely Adverse Scenario. October 18, 2018.
BB&T Corporation Dodd-Frank Act Company-run Mid-cycle Stress Test Disclosure BB&T Severely Adverse Scenario October 18, 2018 1 Introduction BB&T Corporation (BB&T) is one of the largest financial services
More informationDodd-Frank Act Stress Test Results. October 20, 2017
Dodd-Frank Act Stress Test Results October 20, 2017 Overview Synovus Financial Corp. (Synovus or the Company) regularly evaluates financial and capital forecasts under various economic scenarios as part
More informationThe Goldman Sachs Group, Inc. and Goldman Sachs Bank USA Annual Dodd-Frank Act Stress Test Disclosure
The Goldman Sachs Group, Inc. and Goldman Sachs Bank USA 2018 Annual Dodd-Frank Act Stress Test Disclosure June 2018 1 Overview and Requirements For the U.S. Dodd-Frank Wall Street Reform and Consumer
More informationDFAST Public Disclosure: Texas Capital Bancshares 2015
& Dodd-Frank Act Company-Run Stress Test 2015 Public Disclosure June 15, 2015 Page 1 Contents 1. Introduction... 3 2. Supervisory Severely Adverse Scenario... 3 3. Risks Accounted For in Stress Testing
More informationTD Group US Holdings LLC TD Bank, National Association TD Bank USA, National Association
TD Group US Holdings LLC TD Bank, National Association TD Bank USA, National Association Dodd-Frank Act Stress Testing Results Supervisory Severely Adverse Scenario June 21, 2018 Overview The following
More information2015 ANNUAL DODD-FRANK ACT
2015 ANNUAL DODD-FRANK ACT STRESS TEST RESULTS June 2015 OVERVIEW The Dodd-Frank Act Stress Test (DFAST) results provided herein are based on the hypothetical severely adverse scenario provided by the
More informationCitizens Financial Group, Inc. Dodd-Frank Act Mid-Cycle Company-Run Stress Test Disclosure. July 6, 2015
Citizens Financial Group, Inc. Dodd-Frank Act Mid-Cycle Company-Run Stress Test Disclosure July 6, 2015 The information classification of this document is Public. Page 1 Table of Contents 1. Introduction...
More information2014 Comprehensive Capital Analysis and Review
BMO Financial Corp. and BMO Harris Bank N.A. 204 Comprehensive Capital Analysis and Review Dodd-Frank Act Company-Run Stress Test Supervisory Severely Adverse Scenario Results Disclosure March 20, 204
More information2015 CCAR Results and Dodd-Frank Act Stress Test Disclosure
2015 CCAR Results and Dodd-Frank Act Stress Test Disclosure SEVERELY ADVERSE SCENARIO MARCH 13, 2015 A member of MUFG, a global financial group Table of Contents 1 Overview 3 2 Severely Adverse Scenario
More information2015 BOK Financial Corporation and BOKF, NA DFAST Public Disclosure
2015 BOK Financial Corporation and BOKF, NA DFAST Public Disclosure BOK Financial Corporation and BOKF, NA are required to perform annual company-run capital stress testing pursuant to the Dodd-Frank Wall
More informationBMO Financial Corp Mid-Cycle Dodd-Frank Act Stress Test. Severely Adverse Scenario Results Disclosure
BMO Financial Corp. Mid-Cycle Dodd-Frank Act Stress Test Severely Adverse Scenario Results Disclosure October 23, Overview BMO Financial Corp. (BFC), a U.S. Intermediate Holding Company (IHC), is a wholly-owned
More informationRaymond James Financial, Inc. & Raymond James Bank, N.A Annual Dodd-Frank Act Stress Test Disclosure
Raymond James Financial, Inc. & Raymond James Bank, N.A. 2017 Annual Dodd-Frank Act Stress Test Disclosure October 30, 2017 1 As a bank holding company ( BHC ) with total consolidated assets of more than
More informationDisclosure of Company-Run Stress Test Results
One Lincoln Street Boston, MA 02111 United States of America Disclosure of Company-Run Stress Test Results State Street Corporation (State Street; or the Company), like other companies governed by the
More informationBB&T Corporation. Dodd-Frank Act Company-run Mid-cycle Stress Test Disclosure BB&T Severely Adverse Scenario
BB&T Corporation Dodd-Frank Act Company-run Mid-cycle Stress Test Disclosure BB&T Severely Adverse Scenario October 19, 2017 1 Introduction BB&T Corporation (BB&T) is one of the largest financial services
More informationF.N.B. Corporation & First National Bank of Pennsylvania Capital Stress Test Results Disclosure
F.N.B. Corporation & First National Bank of Pennsylvania Capital Stress Test Results Disclosure Capital Stress Testing Results Covering the Time Period January 1, 2016 through March 31, 2018 for F.N.B.
More informationKEY REPORTS 2013 COMPANY RUN STRESS TEST RESULTS. Company reports Stress Test information required by Dodd-Frank on its website
KEY REPORTS 2013 COMPANY RUN STRESS TEST RESULTS Company reports Stress Test information required by Dodd-Frank on its website On March 8, 2013, KeyCorp (NYSE:KEY) announced that it has reported its 2013
More informationCompany-Run Stress Test Results and Process Disclosure Supervisory Severely Adverse Scenario. KeyCorp. March 5, 2015
Company-Run Stress Test Results and Process Disclosure Supervisory Severely Adverse Scenario KeyCorp March 5, 2015 Important Considerations The 2015 Dodd-Frank Act Stress Test ( DFAST ) Results present
More informationCitizens Financial Group, Inc. Dodd-Frank Act Mid-Cycle Company-Run Stress Test Disclosure
Citizens Financial Group, Inc. Dodd-Frank Act Mid-Cycle Company-Run Stress Test Disclosure Published October 5, 2018 to disclose estimated impacts for Citizens Financial Group, Inc. The information classification
More informationCapital One Financial Corporation
Capital One Financial Corporation Dodd-Frank Act Company-Run Stress Test Disclosures October 24, 2017 Explanatory Note Section 165 of the Dodd Frank Wall Street Reform and Consumer Protection Act of 2010
More informationWintrust Financial Corporation
Wintrust Financial Corporation 2017 Annual Stress Test Disclosures Dodd-Frank Act Stress Test Results Supervisory Severely Adverse Scenario October 27, 2017 Table of Contents Overview 4 Supervisory Severely
More information2018 Mid-Cycle Stress Test Disclosure
DB USA Corporation 2018 Mid-Cycle Stress Test Disclosure TABLE OF CONTENTS 1 OVERVIEW AND REQUIREMENTS... 3 1.1 Overview and Description of DB USA Corp. s Severely Adverse Scenario... 4 2 RISK TYPES...
More information2014 Annual Stress Testing Disclosure
2014 Annual Stress Testing Disclosure Results of the FHFA Supervisory Severely Adverse Scenario As Required by the Dodd-Frank Wall Street Reform and Consumer Protection Act Overview On November 26, 2013,
More informationArvest Bank Group, Inc. and Arvest Bank
Arvest Bank Group, Inc. and Arvest Bank 2017 Dodd Frank Act Stress Test (DFAST) Results Disclosure Capital Stress Testing Results Covering the Time Period January 1, 2017 through March 31, 2019 for Arvest
More informationA N N U A L S T R E S S T E S T D I S C L O S U R E
2 0 5 A N N U A L S T R E S S T E S T D I S C L O S U R E Dodd-Frank Act Stress Test Results Supervisory Severely Adverse Scenario March 5, 205 2 0 5 A N N U A L S T R E S S T E S T D I S C L O S U R E
More information2015 Annual Stress Testing Disclosure
2015 Annual Stress Testing Disclosure Results of the FHFA Supervisory Severely Adverse Scenario As Required by the Dodd-Frank Wall Street Reform and Consumer Protection Act Summary On November 26, 2013,
More informationBB&T Corporation. Dodd-Frank Act Company-run Stress Test Disclosure
BB&T Corporation Dodd-Frank Act Company-run Stress Test Disclosure June 23, 2016 1 Introduction BB&T Corporation (BB&T) is one of the largest financial services holding companies in the U.S. with approximately
More informationMUFG Americas Holdings Corporation 2018 Dodd-Frank Act Mid-Cycle Stress Test Results
MUFG Americas Holdings Corporation 2018 Dodd-Frank Act Mid-Cycle Stress Test Results BHC Severely Adverse Scenario October 12, 2018 A member of MUFG, a global financial group Table of Contents 1 Overview
More informationDISCLOSURE OF RESULTS OF STRESS TESTS UNDER THE DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT
DISCLOSURE OF RESULTS OF STRESS TESTS UNDER THE DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT Covering the period from January 1, 2016 through March 31, 2018 under a hypothetical, severely
More informationUtrecht-America Holdings, Inc DODD-FRANK ACT COMPANY-RUN STRESS TEST RESULTS DISCLOSURE
Utrecht-America Holdings, Inc. 2017 DODD-FRANK ACT COMPANY-RUN STRESS TEST RESULTS DISCLOSURE OCTOBER 23, 2017 ABOUT UTRECHT-AMERICA HOLDINGS, INC. Utrecht-America Holdings, Inc. (the Company or UAH) is
More informationFifth Third Bancorp Dodd-Frank Act Company-Run Stress Test Disclosures June 21, 2018
Fifth Third Bancorp Dodd-Frank Act Company-Run Stress Test Disclosures June 21, 2018 Fifth Third Bancorp ( Fifth Third, the Bancorp, or the Company ) hereunder is disclosing results from its 2018 company-run
More informationBancWest Mid-Year Dodd Frank Act Company-Run Capital Stress Test Disclosure. BancWest Corporation
BancWest 2017 Mid-Year Dodd Frank Act Company-Run Capital Stress Test Disclosure BancWest Corporation BancWest Overview Incorporated in this disclosure are the mid-year stress test results of BancWest
More information2018 Annual Stress Test Disclosure Dodd-Frank Wall Street Reform and Consumer Protection Act
Citi 2018 2018 Annual Stress Test Disclosure Dodd-Frank Wall Street Reform and Consumer Protection Act June 21, 2018 Overview 2018 Annual Stress Test In February 2018, the Federal Reserve Board (FRB) launched
More information2017 ANNUAL TEST. IBERIABANK CORPORATION Dodd-Frank Act 2017 Annual Stress Test Results Disclosure
IBERIABANK CORPORATION Dodd-Frank Act 2017 Annual Stress Test Results Disclosure 10/16/2017 IBERIABANK CORPORATION (the Company ), at June 30 th, 2017, is a $21.8 billion bank holding company, primarily
More informationBMO Financial Corp Mid-Cycle Dodd-Frank Act Stress Test Disclosure
BMO Financial Corp. 2014 Mid-Cycle Dodd-Frank Act Stress Test Disclosure September 19, 2014 Overview BMO Financial Corp. (BFC), a U.S. bank and financial holding company, is a wholly-owned subsidiary of
More information2018 Annual Stress Testing Disclosure
2018 Annual Stress Testing Disclosure Results of the FHFA Supervisory Severely Adverse Scenario As Required by the Dodd-Frank Wall Street Reform and Consumer Protection Act Executive Summary Fannie Mae
More informationCitizens Financial Group, Inc. Citizens Bank, National Association Citizens Bank of Pennsylvania
Citizens Financial Group, Inc. Citizens Bank, National Association Citizens Bank of Pennsylvania Dodd-Frank Act Stress Test 2017 (DFAST 2017) Company-Run Stress Test Disclosure First published June 22,
More informationINTERNATIONAL BANCSHARES CORPORATION
INTERNATIONAL BANCSHARES CORPORATION 2016 Dodd-Frank Act Stress Test (DFAST) Disclosure of Stressed Results under a Hypothetical Severely Adverse Economic Scenario October 15, 2016 1 Page Important Considerations
More informationRaymond James Financial, Inc. & Raymond James Bank, N.A Annual Dodd-Frank Act Stress Test Disclosure
Raymond James Financial, Inc. & Raymond James Bank, N.A. 2016 Annual Dodd-Frank Act Stress Test Disclosure October 28, 2016 1 As a bank holding company ( BHC ) with total consolidated assets of more than
More informationHancock Holding Company Dodd-Frank Act Annual Stress Test 2016 Results Disclosure
Hancock Holding Company Dodd-Frank Act Annual Stress Test 2016 Results Disclosure October 27, 2016 In this report, when we refer to Hancock, HHC or the Company we mean Hancock Holding Company and its consolidated
More informationAlly Financial Inc. Dodd-Frank Act Stress Test 2015 Estimates in the Supervisory Severely Adverse Scenario
EX-99.1 2 ccar2015disclosure-finalxi.htm COMPREHENSIVE CAPITAL ANALYSIS AND REVIEW 2015 Overview Dodd-Frank Act Stress Test 2015 Estimates in the Supervisory Severely Adverse Scenario As required under
More information